CoreWeave, a GPU-focused cloud computing provider, announced plans for a $3 billion private offering of convertible senior notes due 2033, with an additional $500 million option for initial purchasers, marking its second major convertible note offering in five months after closing a $4 billion issuance in April 2026. The notes will be secured by certain CoreWeave subsidiaries and pay cash interest on a semi-annual basis, with the company retaining flexibility to settle conversions in cash, shares, or a combination. As of mid-August 2026, CoreWeave had accumulated over $25 billion in net new customer commitments, while its contracted power capacity increased from 3.7 to 4.2 gigawatts within a few months. The company remains unprofitable while accumulating significant debt, though convertible notes and capped call transactions provide some cushion against traditional repayment burdens.
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